London, UK – The British show organizer Tarsus Group plc expanded its U.S. medical portfolio by acquiring PAINWeek, an annual conference for pain medicine specialists.
Tarsus now holds 100% of PAINWeek, which takes place each September in Las Vegas and generates attendance from the neurology, endocrinology, cardiovascular and oncology specialties. The event, which was established seven years ago, was sold to Tarsus by Avenite Co., a medical communications firm.
The acquisition involves a total cash consideration of up to $27.5 million of which $5 million will be paid on completion of the acquisition and up to $22.5 million in deferred payments linked to the performance of the business up to the end of 2018.
For the year ending December 2014, the assets subject to the transaction had an unaudited profit of approximately $1.0 mil before taxes.
“The acquisition of PAINWeek complements our existing medical businesses enabling us to address all four pillars of the preventative medical market,” said Douglas Emslie, managing director of Tarsus Group. “We see a number of opportunities for us to expand the PAINWeek business and to cross-promote our other medical events.”
There was no immediate word on any planned changes in staffing or format. Tarsus produces 13 other niche medical conferences in the U.S., Dubai, Canada and Australia, and Thailand.
Reach Douglas Emslie at +44 (0)20 8846 2700 or firstname.lastname@example.org